Challenge
Following acquisitions and divestments the bank was operating five separate legacy systems for their mortgage and savings books. This represented significant operational, technical, and financial risk to the Bank.
The challenge for Peru was enable the bank to select and execute a solution, picking a single provider and developing a new operating model.
Approach
- Market analysis of options. We developed a ‘long list’ of mortgage and savings solution providers and BPO options.
- Peru ran an RFI process including framing of opportunity, workshopping, evaluation, and recommendations.
- This was narrowed to a preferred list and Peru ran an RFP process, leading to evaluation and recommendations to the bank executive.
- We developed the business case to support the transformation programme.
- Peru conducted due diligence with the down selected partner, which led to a contract award.
Outcome
- The bank realigned its operating model retaining and refocusing its inhouse team and migrating legacy systems onto the new platform.
- The Bank mitigated operational, technical, and financial risks related to their legacy platforms.
- The transformed solution has provided the platform to develop new products and services.